Tax Proposals to Watch

This proposed new tax at death on certain appreciated assets, proposed by the Obama administration, would have major effect on family wealth transfers. Most estates with up to $11 million in assets can pass to heirs tax free due to Increases in the estate tax exemption and other statutory improvements enacted in the last two years. Now the administration would subject highly appreciated business, investment and personal assets in even small estates to significant taxation and the renewed necessity of costly death tax planning. This is yet another example of the divide between Republicans and the Obama administration on tax policy, and the rough road ahead for tax reform. Here is the what you need to know